City Staff and Canada Winter Games Council Huddling This Week
By 250 News
Tuesday, October 26, 2010 03:57 AM
Prince George, B.C. – Representatives from the Canada Winter Games will be meeting with Prince George City staff this Thursday. This will be the first time the City Staff will have an opportunity to clarify how dollars will flow from the provincial and federal government and the Host Society for the 2015 Winter Games.
In the meantime, Manager of Financial Services Kathleen Soltis, says there will be some operating costs the City will have to cover in the coming year, until the other funding sources are identified.
The operating budget for the games is broken down in three parts, with $3 million from the City , $8.1 from the Federal Government and $8.1 from the Province. The City’s amount could be offset with ticket and merchandise sales and sponsorships.
As for the Capital budget, the City is expected to pay $11 million dollars.
There are two options with the City either taking a “pay as you go” option, which would require a temporary increase to property taxes. Specifically, a levy to raise $2.2 million over 5 years, would see the taxes increase by 3.4% in each of the next 5 years.
More details will follow the meeting on Thursday.
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